AULT & WIBORG (NIGERIA) LIMITED V. NIBEL INDUSTRIES LIMTIED

F.F TABAI, JSC (Delivering the Leading Judgment): The record of this appeal is rather scanty and does not appear to contain all the details about the suit from its inception. However from the materials available in the record, it is clear that the suit was commenced at the Ota Judicial Division of the High Court of Ogun State. The Plaintiff company was the Respondent at the court below and also the Respondent here. The Defendant company was the Appellant at the Court below and also the Appellant before this Court. The claim of the respondent against the Appellant was for the sum of ₦1,320,013.83 (one million, three hundred and twenty thousand and thirteen naira, eighty-three kobo) only representing debt with interest at the rate of 21 (twenty-one) percent per annum from November 2001 until the final liquidation of the debt. There was also a claim of 21 (twenty-one) percent post-judgment interest.

By an ex-parte motion dated 29th October, 2001 the Respondent sought an order that the su…